Monday, December 13, 2010

SOLD....4/19


BOSTON--(BUSINESS WIRE)--Today, Steward Health Care LLC (Steward) announced an agreement to acquire Essent Healthcare’s Merrimack Valley Hospital (MVH) and Nashoba Valley Medical Center (NVMC). The agreement calls for the assets of MVH and NVMC to be acquired by Steward Health Care to expand its community-based accountable care organization.
So, it would appear that Essent is divesting itself from the losing propositions. That leaves, what, three? Is that enough to have a building, a suite of offices, or a closet for a headquarters?

So with less going out, does that mean that there are new investments to be made in existing facilities, or are we back to buying?

Tuesday, November 02, 2010

Is it Fall Yet?....2/16

The Nashville Post received a press release from Essent last year---almost a year ago---foretelling two events:

Essent consolidates Texas hospital campus
By Erin Lawley

Posted on November 24, 2009 at 8:10 am
Essent Healthcare will consolidate the acute-care services of Paris Regional Medical Center in Paris, Texas into a single campus by next fall. The move is designed to improve access for patients, strengthen the quality of care and provide for better coordinated services. Essent owns five hospitals and is in the process of acquiring its sixth.
Soooo, which proved to be true? Both? One? or, none (right answer)! So, does that mean that the access is poor, the quality of care needs strengthening, and the services are un-coordinated?

Hmmm.... I did say that it was a year ago, didn't I?

I wonder if that press release was from the same person that said Dux was leaving immediately, er ah, I mean, by October 1st. Probably going to announce that fall has been delayed.

Thursday, September 02, 2010

Making Like a Tree....2/16


Funny, as it was pointed out to me numerous times, how one day the Duck is being 'frog marched' to the door, with Essent saying the coup d'├ętat was now...and the next day, he has a month to pack his pencils....

Now....


To ensure a smooth transition of the hospital’s leadership, Dux will remain at PRMC until Oct. 1. At that time, current chief operating officer Bill Porter will assume the position of interim CEO.
...and then....


“He is telling his employees now,” Fox told The Paris News shortly before 10 a.m. today.

Bill Porter, PRMC’s current chief operating officer, will begin serving as interim CEO immediately.
Whoever writes the releases ought to learn the meaning and value of consistency.... Of course we hicks can't remember one day to the next, so why bother???
My question would be: Why, with all that time and effort to build a reputation in health care would a CEO of a hospital bail? ...and for an undisclosed endeavor???

Wednesday, June 30, 2010

Cleaning Up??....9/6


A different perspective:

You have to wonder what is going on. Apparently they are cleaning the place up in Paris (the fountain even works!), over-staffing in non-critical areas (2 nurses for 3 patients in some areas) and even Ducks and the Connster were seen roaming the halls "inspecting" everything this last week. Looks a whole lot like a potential buyer is looking to view the place or else they are expecting a "surprise" inspection from a state agency.
I think I would go with the former.
Cleaning up, or ride-sharing....

Thursday, June 10, 2010

No News is Good News....7/4

Is Essent for sale? Maybe pieces of it. The Lowell Sun's article left a bit to interpretation. "...possible joint purchase (of the hospital) of some kind." could mean anything, including a management deal, or a trade out for the newly acquired facilities. But wasn't the one facility pledged on that loan????

Since the fall through of the Brown deal (number 4, wasn't it?), Essent's stock is probably at a new low--or would be if it was a publicly traded company. A pay
freeze for the third year doesn't indicate any good news, as well.

Time to use the motivational fairy....


Friday, May 28, 2010

Sorry Charlie....7/4


Looks like Brown County General dodged the bullet...grapevine (rumours, not the town) has it that more guarantees were needed--by which party? Who knows.

But, that makes how many misses for Essent? There probably are only just so many fish in the sea. Ahh yes, but who's counting.... Just you...and me...and Charlie.

Thursday, May 20, 2010

It Keeps On Rolling....5/28

Been over to the ER lately? Recognize the staff? If you do, you're lucky, since the majority are temp service/agency nurses.


What's the harm, it infuses the hospital with new people??? Yeah, but when the location of the simplest things takes a question, and it pulls another nurse away from patients.....


But we can see if we like a nurse's work before we offer them a postion.... How many actually take an offer from here?

You really can't fault the nurses--the ones we had have a good chance of being agency in another hospital....


No truer words have been spoken than: Familiarity breeds contempt.

Friday, March 19, 2010

CHS has their problems


I probably wouldn't have even mentioned it, but a memo was passed my way. Remember Bill Heburn? He was involved with the purchase of PRMC, I believe. He was bounced from Essent when he developed a case of foot-in-mouth disease, and mentioned that Crossroads, their hospital in MO, had only been profitable for one year in five. Huddie didn't like that after I kind of mentioned it (and at least two selection committees should have taken notice, because that was not the way that Essent was presented to Sharon nor Paris), so Bill was in the wind.

He's apparently redeemed himself over the years, with Trinity, and now CHS. Bill will be taking the reins of Northwest Health System on an interim basis. Apparently the CEO and CFO simultaneously resigned. That in itself is probably significant. Also significant is the fact that while writing this, the web page with Doug Arnold (CEO) is still up--but probably not for long. The memo went out on the 18th. Good luck Bill.










M E M O R A N D U M


TO: Northwest Health System
Members of the Board
Members of the Medical Staff
Employees
Volunteers

FROM: Michael Portacci
President – Division II Operations

DATE: March 18, 2010

SUBJECT: CEO Announcement
____________________________________________________________________________________
Doug Arnold, Chief Executive Officer, and Eddie Klein, Chief Financial Officer, have resigned their positions with Northwest Health System effective immediately.

Bill Heburn will lead the system as Interim Chief Executive Officer, providing operational oversight during the transition. Bill is a veteran hospital executive who has worked with CHS-affiliated hospitals, most recently as a chief executive of the 349-bed Trinity Medical Center in Birmingham, Alabama.

A national search for new officers has begun; board and medical staff leaders will be involved in identifying the best candidates to lead this system.

Through the strength of our medical staff and employees across the Northwest Health System, I am confident that your focus will remain on delivering quality patient care. Thank you for your commitment to being the healthcare resource in our communities.

MTP/gf




“Community Health Systems” is a registered trade name of
Community Health Systems Professional Services Corporation

Friday, February 12, 2010

Management by Proxy....5/20

More commentary, seemed fairly poignant, so it gets its own post:
I'm not sure anyone reads this blog any more, but I'll give my last 2 cents worth of commentary.

Truism: A business exists to benefit the owner, not the employee. It is what it is. The sad fact is, it seems Essent only cares about corporate earnings statements and not the people who support the business; customers and employees.

That being said, what has happened to this community is a terrible thing. Many previous posters have talked about every issue possible, offered their solutions to many, many problems only for them to fall on deaf ears. Most didn't have Harvard MBA's but had experience a degree couldn't provide.

Although Essent is reading these comments, they are much like the current administration in Washington and that is; "Full speed ahead, damn the torpedos."

It's too bad that they didn't listen to the troops on the ground. After all, it wasn't their money and prestige they were squandering, it was other peoples.

I don't know of one single person, me included, that has left that place without bitterness in their heart. It used to be such a nice place to call home. And, it was home to thousands of people in Paris and surrounding areas. Not any more.

I believe the hospital will survive, but it will take many years to regain the trust of the people in Paris and NE Texas.

RIP